Looking out for price movement always are usually practiced by traders not holders, sometimes I refer the short term investing as trading cause there's no guarantee of success, although the trading field can't be compared with holding bitcoin cause the amount of loss involved in trade likewise a short term plan is annoying mostly beginners who are inexperience about trade. From my view the common reason why people still feel emotional with bitcoin price is because they don't know what the long term is all about so sometimes investors fail to make plan.
It's mostly watching out for the demand and supply, it actually concerns both sides but the differences is that on the trading side both the demand and supply is being put into consideration to make market execution while on the other hand watching only the demand could be done at most times to make more buys which we also know as buying the dips, it could also be a great advantage of monitoring when to sell part of holdings probably for those with enough holdings who could easily make some profits from selling out of their holdings